Regal Healthcare Capital Partners announced the final close of its fourth private equity fund, RHCP IV, with $610 million in total commitments, surpassing its original fundraising target of $550 million. The fund includes approximately $575 million in external commitments and will continue the firm’s strategy of investing exclusively in lower-middle-market healthcare services companies across the United States.
Based in New York, Regal has now raised nearly $1.3 billion in aggregate commitments across its first four funds since 2018. The firm focuses on partnering with healthcare entrepreneurs and businesses that provide high-quality, accessible, and convenient healthcare services.
Fund IV attracted strong backing from Regal’s existing limited partners and added several new institutional investors. New commitments came from a diverse group of blue-chip investors, including endowments, foundations, asset managers, consultants, and public pension plans, further expanding the firm’s investor base across both geography and investor type.
Regal typically targets equity investments of approximately $75 million per platform company, focusing on businesses with $20 million to $100 million in revenue and $2 million to $10 million in EBITDA.
Support: Lazard served as the exclusive placement agent for the fundraising process, while Kirkland & Ellis acted as legal counsel to Regal.
KEY QUOTES:
“The quality and diversity of our Fund IV investor base speaks for itself, and we are deeply grateful to our longstanding partners and new investors alike for the trust they have placed in us.”
David Kim, MD, General Partner at Regal Healthcare Capital Partners
“Fund IV reflects the confidence our investors have placed in our team and strategy, and we are excited about the opportunities ahead.”
Jon Santemma, General Partner at Regal Healthcare Capital Partners